Growth of Credit Unions Reach
About 20,000 in United States
By ELMER C. WALZER
UPI Financial Editor
New York - (UPD - Credit
unions, according to Alexand
er i Hamilton Institute, are
growing at a
faster rate
than any other
financial insti
tution in the
8
, 1 K AMI I J. VIZ.
"svi These do-it-
'"? yourself insti-
iu Lions migm
be compared
to banking
timer wabtr somewnat as
investment clubs are to the
stock market. There's one dif
ference. Bankers aren't too
fond of them. The stock mar
ket loves the investment clubs.
Credit unions take business
away from banks. Investment
clubs bring business.
The two groups are thrift
Institutions, and each is grow
ing rapidly in scope and in the
money invested.
11 Million Customers
There are some 20,000 cre
dit unions in the nation with
a membership aggregating 11
million persons. Their assets
total $4.4 billion. They have
$3.1 billion of loans outstand
ing. Membership averages 550
persons.
These unions pay 4 per cent
interest on deposits and charge
one per cent a month on the
unpaid balance on loans.
A credit union is described
as a group of people organized
into a sort of bank to save
their money together and
make loans to each other at
low interest rates. Loans in
clude those for auto pur
chases, home modernization,
and the like.
The unions are subject to
regulations and must main
tain reserves. In their forma
tion they must obtain char
ters. They maintain their own
insurance for members mu
tual insurance society which
has $4.2 billion of insurance
in force.
The Alexander Hamilton
Institute made a study of
these unions. It found their
history dates back to 1849
when they were first or
ganized in Germany.
The institute found that a
French - Canadian legislative
reporter, Alphonse Despardin,
became interested in the
European experiment and af
ter a long period organized
the first credit union in North
America at Levis, Quebec, in
1900. In 1906, the Quebec
Legislature passed the first
credit union law in the West
ern Hemisphere.
Despardins helped to form
the first credit union in the
U.S. in Manchester, N. H., in
1909.
Meantime, Edward A. Fi
lene, Boston department store
owner and philanthropist,
came into contact with credit
unions in India. He gave
around a million dollars to
further the idea in the United
States.
The United States Federal
Credit Union Act was passed
in 1934. By that time legisla
tive approval of credit unions
had been attained in 39
states. -.'
Today, the Alexander Ham
ilton Institute estimates, the
20,000 credit unions serve
better than six per cent of the
U.S. population. Of the total
number of unions, almost a
third have been organized by
employees of manufacturing
companies, independent of
labor affiliations.
Government em p 1 o y e e s
have organized 19 per cent of
the total and another 10 per
cent has been formed by em
ployees in transportation or
utility services. Church
groups, teachers and school
maintenance employees, labor
union locals, and employees
of wholesale and retail estab
lishments complete the mem
bership picture.
fed
Small Worlds
Around Us
By Lynn M. Watkins .
By Any Name, the Lady-bug
Beetle Is Just as Sweet
The "Virgin Mary's golden
hens" is the rather startling
description that 'the people of
Sweden give to the lady-bug
beetle. Their folklore is rich
with complimentary stories of
this little spotted bug that has
he glassy oval body, with
bright yellow, or gold polka-
dot decorations.
To those people the tiny
bugs undoubtedly did look
like small hens, as they gath
ered in flocks to feed on the
plant lice that often swarm
on growing plant stems.
And lest we begin to think
the Swedes are prejudiced in
favor of this little insect let
us hasten to note the reverent
awe in which the people of
France also hold him. Here
the vast vineyards have been
saved many times by the
ceaseless activity of the lady-
bug. In simple thankfulness
the Frenchman has christened
Even when it says
fash V Wear
1 depend on my
SANITONE
DRY CLEANER!
When I send my wash 'n' wear things to my
Sanitone Dry Cleaner I know they will come
back looking like new. I'm never so sure of my
own efforts. Stubborn spots, perspiration
stains, and even embedded dirt particles which
cause wear are gone. And Sanitone's Style
Set Finish restores the like-new finish to
fabrics.
It's convenient to call for Sanitone service.
I don't have to spend my valuable time or
crowd my home with clothes dripping dry.
FOR SANITONE DRY CLEANING
Phone SP 2-9169 n r-i g . 17 ft
601 E. Main St.
H. D. CHRISTENSEN
Free Parking Right at the Door!
them with their own descrip
tive name "cows of the
Lord."
The Only Protection
No French farmer ever for
gets that the little beetles are
the only protection he has for
the control of plant lice; espe
cially the aphid that feeds ex
clusively on the Juice of the
grape. The "cows of the
Lord" are grazing contented
ly on these living pastures of
plant lice, and are holding in
check an insect that could de
nude the vineyards in a sin
gle season.
Even American folklore
pays tribute to this same little
bug, in the simple song, loved
by all children: "Lady-bird,
lady-bird, fly away home;
your house is on fire and your
children will burn." Who
wrote this catchy little jingle
is unknown, out it is pre
sumed that it had its 'origin
in the so-called cranberry
bogs of the eastern states,
where in the fall the dead
bushes are raked into piles
and burneji. Great numbers
of lady-bird beetles always
fly away from these fires, and
probably this suggested the
song.
The lady-bug is as helpful
here as anywhere else. Where
ever plants grow, there plant-
lice grow and there too will
be the little spotted beetles to
eat them. A fews years ago
the entire citrus crop of Cali
fornia was threatened by the
cottony scale insect, a little
bug that looked like a ragged
dirty bit of cotton. It had
come from abroad and in a
short time citrus trees died in
rapid succession. -
Lady-bird beetles were
turned loose and that ended
the cottony scale insect. And
that saved the citrus crop.
Thousands of Kinds
There are about 150 kinds
of lady-bugs in the U.S. In
the entire world there are
probably several thousand
kinds, and new ones are be
ing found nearly every month.
Don't let a dislike for bugs
prejudice you into a whole
sale killing of all insects; for
working within the confines
of your own garden are many
ladybugs, and they are all on
your side.
Whether you call them
lady-bird, or lady-bug, . or
cows of the Lord" or "Virgin
Mary's golden hens" makes
little difference, they are the
same friendly little bugs that
hold in check the destructive
ahpid. Without the lady-bug's
constant vigi'ance the aphid
would destroy every, plant
and tree in your garden.
(Released by The Register
and Tribune Syndicate, 1959.)
Coast Highway Due
For Use by 1961
Coos Bay -(UPD- State High
way Engineer W. C. Williams
says a 15-mile section of re
routed Highway 101 in Curry
county, one of the costliest
jobs in Oregon road history,
should be ready for travel in
1961.
This is about a year sooner
than expected at first, he said.
The $10 million job will
straighten out a section from
Brookings to Pistol river.
A Highway Commission
group traveled the length of
the route Sunday as part of
a four -day tour of western
and southern Oregon roads.
Today the group was to
travel up the Coast highway
and then the Lower Columbia
River highway to Portland.
Theyll Do It Every Time
By Jimmy Hatlo
Hjteless,twe camp counselor,
is a specialist at convincing the
kids they're not homesick
X WAHtJA
GO HOME
I DON'T LIKE
IT HERE;
(SKIFF)
I WANNA
GO HOME
wn.vmi rYWr
6RlDLEy.' YOU'RE
TOO BIG A MAN TO
GET HOMESICK.' VDU
JUST HAVENT ENTERED.
INTO THE SPIRIT OF
THE CAMP YET-VOU'LL
LOVE IT -SMILEi
THAT'S IT if
WINN
The Alaska moose, weigh
ing up to 1.400 nounds. is the
largest of the deer family.
We Give dVl
GREEN STAMPS
CENTRAL REXALL DRUG
Main and Central
HELLO , MA YEAH ME-
FUTELESS I GOTTA TALK
LOW-X DONT WANT THEM TO
HEAR ME-THIS PLACE GIVES ME
THE WILLIES YEAH -I'M FEO UP
WITH IT-COULDN'T YOU CALL THE
HEAD 6UY AND TELL HIM POP IS .
SICK f THAT YOU NEED ME HOME.
,1 SURE MISS YOU AND FOP AND,
HA2E1.-HOWS HAZEL.?,
rvv
8-17
1959, Sng yafares Syrnga-te, Inc.. World ric'nta reaeictf .
But get a case of himself
WHEN HE'S FED UP WITH THE
HEALTHFUL LIFE AT WlNNVBONOO
Rockefeller 'Might' Run for President
Albany, N. Y. (UPD Gov
Nelson A. Rockefeller said, to
day he "might"- run for presi
dent if he could be convinced
he could "deal effectively and
constructively with problems
facing the country."
"I would never decide to be
a candidate for higher office
unless I was convinced these
factors were true," Rockefel
ler told a news conference.
Asked if the availability of
other candidates would in
fluence his decision, he re
plied: -
"I think one can't disas
sociate any decision from all
surrounding factors. I would
stress that my own decision
be made on a positive basis
on -terms of opportunity of
service which I feel I might
be able to perform under cer
tain circumstances."
The Sierra Nevada moun
tains in California have at
least 41 peaks that are more
than 10,000 feet high.
Fvervwhere! '
iiider's
Quality DAIRY FOODS
MAIL TRIBUNE, Medford, Or.
Monday, August 17, 1959
The U.S. has about five
acres of trees for every per
son in the country.
mm
ii
i ill n n il .I! 3
A Great New
Shopping Adventure
Is in Store for You!
Watch for it!
II w I
IMPORTANT SAVINGS IN IVIRY DEPARTMENT. SHOP TIL .9 TONIGHT
mm
TERRIFIC BUDGET-STRETCHING VALUES FOR YOUR FAMILY, YOUR HOME, YOUR CAR
BUY WHAT YOU NEED NOW-PAY LATER-use Wards Liberal Credit Plan
SALES Girls' drip-dry
plaid school cottons
; : - ;
n
USUAUY S.9
SIZES 7 TO 14
398
Shirtwaists with enchanting "old-fashioned" look in
famous Dan River, Galey & Lord cottons that are
machine washable, need little if any ironing.
Usually 3.98 dresses 3 to 6X ...... . . .2.98
SALE! Bunk, trundle or
twin beds Reg 135.95
(5)88
SAVE
$16
NOW
"nil!
U U 2
Yours complete with 2 mattresses, ladder, guard
rail and durable link springs. Compact, ideal foe
children's room or cabin with rich Maple finish.
All solid hardwood. Easy-to-make beds.
n. W - . mm ::::::
SAVE! Royal "Dart"
portable typewriter
KB. TAX INCU
CHtiy $5 dew
56
99
Full-size keyboard, louchsel margins
Only at Wards can you get a Royal 'portable with
big machine features at such a low price. Compare
its portability, action and beauty now!
SALE! Men's SALE! Men's, SALE! Nylon
ivy shirts boys' gym skips stretch tights
2 FOR 5 3
44
PR.
1
88 USUALLY
2.95
REG. 5.98
88
Foulard, paisley,
and ivy print cot
tons have button
down collars, smart
long sleeves. S-M-L
Nationally 4.95!
Tough cotton duck,
molded rubber
soles, cushioned in
soles. 2'2 to big 12.
Full fashioned to fit.
Quick-drying. Red,
black, royal. S (5'
5'3"), M (5'4'-57").L(5'8',over).
SALE! Orion4
cardigans ,
4
Newsy bulky
knit sweaters
wash wisely! White,
red, brown, black,
pastels. 34-40.
rg. trademark
SALE! Boys'
no-iron shirts
2 f3
Usually 1.98 ea.
New "conversation"
' prints in wash-and-wear
cottons, "mad
der" fall tones. 6-1 8.
SALE! Boys'
No-iron pants
099
Regularly 3.49.
Coneset cotton,
means true wash
and weaf, little or
PO ironing. 6 to 18.
SALE! Boys'
cotton socks
3 pair. 88C
Usually 39c pair.
Colorful patterns in
soft, absorbent cot
ton. Reinforced
heel,toe-.7tol0,A
FREE!
to youngsters ... while they last
DELICIOUS CANDY
WHISTLES
AND
with the purchase of
$2.98 or more for school
PLASTIC PENCIL
BOX
complete with ruler,
sharpener and 2 pencils
Children must b accompanied by on aduhj
175
In Prizes!
Free Drawings for Grade
and High School Students.
No Purchase Necessary.
o $100 and $25
Gift Certificates
o $50 Bike,
girls or boys
Entry blanks are available in
all Back-to-School Departments.
Be sure, to register soon. You
may fill out an entry blank dur
ing each visit to Wards.
t i
1
TRU-C0LD
refrigerator
199
WITH
TRADE
Full width 60-1 b.
freezer chest, full
width vegetable
crisper, complete
door storage.
SALE! Vinyl
floor surface
Nationally adver
tised at 98c Won't
spot orfade. Tough,
durable. 9', 12'
seamless widths.
Riverside Air
Cushion tires
1388
NOW
SALE! Fiber glas
furnace filters
68'
Reg.
89c
SALE! Super
House Paint
Reg.
5.79
6.70-15 tube-type
blackwall, plus tax
and trade-in tire.
1 5-mo. guarantee.
Drive to Wardsnow!
Popular 1 -inch sizes.
Spun fiberglas re
moves dust, cuts
fuel bills. 2' sizes
also at cut prices.
4al.
TesftcT 25 years
equal to 7J35
brands. Linseed oil
base resists mildew,
self-deaning.Colors.
SAVE$14!7V2"
saw was 64.50
4988
SALE! ,
Heavy-duty safety
clutch motor de
velops 2 HP. Cuts
2JU'at90M-year
guarantee. .
SALE! 50-FT.
PLASTIC HOSE
Req. 4.95. !4 inch
diameter. New,
revolutionary ny
lon coup lings,
long last ing,
crush-resistant.
1